The consortium is owned to 51percent by a firm controlled by 47-year-old Swedish-Chinese businessmanKaiJohanJiang, who is expected to become CEO of NEVS.

KaiJohanJiang, born 1965, worked for seven yearsin the 1990sas an advisor toVolvo Trucks'formerCEO KarlErikFaithful, who now is chairman ofNEVS.

The 51 percent stake in NEVS is owned by KaiJohanJiang's NationalModernEnergy Holdings, also parent company of his green energy company StatePower Group. The remaining partis owned bythe Japaneseinvestment companySunInvestment.